Is it profitable by entering wholesale fashion jewelry market? What should I do to be competitive and powerful? If you are confused with such problems, then you’ve come to the right spot.
The high demand for cheap fine jewelry accessories has created a huge market for wholesale fashion jewelry industry. A large amount of fashion jewelry accessories wholesalers are looking for new ways to win the fierce competition. However, how to win the competitive advantage in this fight has become a difficult problem for wholesale fashion jewelry business owners to solve.
Therefore, in order to help you succeed, we created this blog for you. In this blog, we will talk about the trend of the fashion jewelry accessories industry in recent years, and see what are the opportunities and challenges faced by the wholesale fashion jewelry industry in the future. Follow us!
The love for fashion jewelry
In the 1953 film Gentlemen Prefer Blonds, Marilyn Monroe sang a jazz song: “Diamonds Are a Girl’s Best Friend. ” Over the next half century, people have been maintaining high enthusiasm to diamonds, as did gold, silver, crystal and other jewelry accessories.
Although jewelry is not a key part in the overall wear, it is the most important piece to highlight the temperament and glamour. Not only can add the finishing touch, but also can represent people’s own personality and identity.
However, compared with those expensive makeups, the price of high-priced jewelry is often much more expensive than that. Therefore, many women prefer to purchase those less expensive, trendy, and good-looking fashion jewelry accessories for daily wear.
Cheap fine jewelry is entering the mainstream
Over the several years, the emergence of numerous jewelry brands has been changing with people’s consuming attitudes . The driving force for most customers buy fashion jewelry and accessories has gradually transitioned from the needs for different occasions to people’s own pleasure.
Especially for Gen Z, affordability, authenticity and transparency have become the most important factors for their purchase. Therefore, compared with those expensive jewelry brands, they are more likely to buy those cheap fine jewelry with fashion styles. In addition, unlike older generations, Gen Z usually make purchases from a diverse array of sources, like shopping websites, social media platforms etc. For example, most of them overwhelmingly prefer shopping websites such as Amazon, Alibaba, Target to discover ideas when shopping, and are less likely to turn to physical stores.
Challenges faced by wholesale fashion jewelry business
For traditional wholesale fashion jewelry businesses, there are mainly two key challenges:
- B2B e-commerce platforms
The B2B wholesale market is becoming increasingly competitive. Especially with the emergence of many e-commerce giants like Amazon, AliExpress, Alibaba.com. The wide variety of wholesale fashion jewelry at cheap prices and fashion styles has attracted numerous online buyers. Price transparency and low barriers to switching suppliers are very normal.
In addition, disintermediation can be a huge challenge for many wholesale fashion jewelry businesses. Therefore, many wholesalers have to decrease the wholesale fashion jewelry prices, so are the profits. However, it can be difficult to be profitable in the long run.
- Efficient logistics
The high standard for the delivery speed and efficiency of consumers has forced to improve the logistic levels. A late order from a wholesaler will easily lose their businesses. For many wholesale fashion jewelry sellers, they have to process hundreds of thousands of orders everyday. Faced with a large amount of customers, it can be difficult to forecast the complexity of demand and supply. That is to say, wholesalers have to provide even better service and faster shipping for even lower prices.
For wholesale fashion jewelry businesses, how to be competitive?
- Go digital
To thrive in this competitive market, wholesale fashion jewelry businesses have to find value that e-commerce giants cannot provide. Since many wholesale jewelry buyers are preferring an online B2C shopping experience, so, building a well-functioning online platform can be a wonderful choice.
You will find that it’s hard to find a truly reliable wholesale jewelry seller on platforms like Amazon, and the quality of the jewelry can not be ensured. Therefore, you can attract more customers by selling high quality wholesale fashion jewelry with lower prices.
- Build long-term relationships with reliable jewelry suppliers
Finding a truly reliable wholesale fashion jewelry supplier who can provide you with cheap fine bulk jewelry is of vital importance. In order to be competitive, keeping your inventory costs to the lowest level is very crucial. However, when you search online, you will face a wide range of wholesale fashion jewelry suppliers who have different services and policies. So, the first thing is to know the standards of a good bulk jewelry supplier.
Generally speaking, there are some key factors you need to take into consideration:
- Stock quality and consistency
- Brand reputation
- Customer loyalty
- Delivery efficiency
- Return policy
For example, Jewelrykg can be a wonderful choice for wholesale fashion jewelry selection.
- Embrace technology
There is no doubt that online shopping will be dominant in the future. Good and convenient shopping experience is very crucial for customers. And this can only be achieved through improving technology. You will find that numerous wholesale fashion jewelry businesses are upgrading their systems to improve efficiency.
For example, inventory management system can better avoid problems like overstock or out of stock, thus realizing the automation of supply chain. In addition, you can also simplify your sales process, thus achieving a fast and simple shopping experience.
A different way to source wholesale fashion jewelry?
Just as we mentioned before, cooperating with a truly reliable supplier who can provide you wholesale fashion jewelry at low prices is important. However, have you ever considered using other ways of purchasing bulk jewelry? For example, buying jewelry by kilogram.
For example, last year, Jewerlykg, a leading professional wholesale jewelry supplier from China, introduced this new sales model: jewelry wholesale by kilogram. This makes the jewelry prices can achieve 25 to 30% lower than other websites, thus attracting a large number of consumers. On the one hand, this new wholesale model allows customers to purchase high-quality wholesale jewelry at a low cost. On the other hand, those who buy from Jewelrykg can gain a huge competitive advantage by selling those jewelry wholesale at a lower price than their competitors.
Benefits of buying jewelry wholesale by kilo
Jewelry wholesale by the kilo is a cheaper purchasing model even than the regular wholesale prices. The jewelry is randomly placed in the package, and the price is calculated according to the weight, which is a highly cost-effective procurement model.
- High cost performance.
Generally speaking, one kilogram of jewelry will contain 100-350 pieces of jewelry.
- High quality.
If you want to buy those cheap bulk jewelry in the market, you are very easily to get defective goods without independent packaging. However, if you choose the right jewelry supplier who sells jewelry by wight, then you can get high quality complete jewelry products.
- A large variety of styles.
You will get all newest hot-selling accessories are randomly mixed to ensure that the jewelry in each package are of the same type, instead of those cheap jewelry from clearance racks.
Embracing changes is always very important. As long as you find the right strategy, you will gain competitive advantages in your own business. Thank you for reading this blog, hope it can provide you with some helpful information! If you like it, don’t forget to share it!